Luke Perry was Ready. Are you?
People seem to love to hear stories about the personal lives of famous people. Death is no exception. Coy Luther Perry III or “Luke Perry” to those who were fans of the 1990s show Beverley Hills 90210 that aired for 10 years or the more recent popular Netflix show Stranger Things had an unexpected death. Television has a way of making people believe they know the actor. What we should all know about the real-life Luke Perry is he took steps to ensure his family was provided for after his death.
Thought About It
His estate planning may have been prompted by a cancer scare in 2015. Nevertheless, he was ready at the time of his unexpected death from a stroke at the age of 52. He was quoted as saying he did not want to leave anything to chance. Luke Perry was divorced with two grown children at the time of his death, but he took care of them.
Planned for the Inevitable
He had a massive stroke at home in March 2019 and rushed to the hospital . He remained on life support five days. At the time, he was divorced but had a fiancé. Such a family dynamic can cause problems. Someone needs to make the decision whether he should remain on life support. We don’t know if he had a medical power of attorney that named someone to make health care decisions for him. In Texas, a person needs a medical power of attorney to make the decision to remove life support. Otherwise, a court order is needed. When a court order is needed, it can delay the decision and prolong the family member’s emotional suffering and can lead to prolonged litigation. These issues can be avoided by having a medical power of attorney naming someone to make the decision or creating an advance directive in which the patient tells the physicians ahead of time whether they want to be on life support.
It has been reported that Luke Perry had placed his property in a living trust. This means he changed ownership of his property from his name to the name of a trust. This could avoid probate and his property could pass to his children without the court’s involvement. He could have had a will that directed that property not already moved to the living trust to pour over into the trust at the time of his death.
Keep It Updated
If his will and trust were set up in 2015 before he was engaged, his fiancé may not receive any of his property. Although it is recommended you update your estate plan when important life changes occur such as marriage, divorce, birth of a child, death of a family member, most people do not take steps to provide for a fiancé. With appropriate estate planning, these loopholes can be anticipated and avoided.
Don’t postpone getting your affairs in orders because it could be too late. So, what will it take for you to take the steps needed to protect your children? Aren’t they worth it now?
At the Law Office of Hugh Spires, Jr., PLLC we can advise you on the tools available to care for your family. We even travel to our clients within 50 miles of San Antonio, Texas at no extra charge. Contact us now at 210-874-5700 or hspires@TexasWillsLawyer.com.